Leaders have shifted their focus from staying afloat through the pandemic, to identifying what strategies can help them sustain business in the long-term.
For cloud storage firm Dropbox, the company is turning to a virtual-first approach to turn its offices into collaborative studios, coined Dropbox Studios. It will also offer its employees stipends to become coworking members.
Using this approach, Dropbox hopes to expand its talent pool and thus create a more diverse workforce.
“We know that the things that were really important to people were to be able to connect with individuals and eventually get together when they need to collaborate and work as a team, in a collaborative space,” said Sylvie Veilleux, CIO at Dropbox. “But for the most part, individual work will continue to work from home.”
Companies have steadily been walking away from their physical offices, with Pinterest recently paying $90 million to break its lease on an office in San Francisco.
This trend is sweeping through the entire commercial real estate market, where occupancy has dropped by 28.9 million square feet in the third quarter of 2020.